#### Explanation / Important formulas:

• Cost Price: The price, at which an article is purchased, is called its cost price, abbreviated as C.P.
• Selling Price: The price, at which an article is sold is called its selling prices, abbreviated as S.P.
• Profit or Gain: If S.P. is greater than C.P., the seller is said to have a profit or gain.
• Loss: If S.P. is less than C.P., the seller is said to have incurred a loss
• Gain = (S.P.) – (C.P.)
• Loss = (C.P.) – (S.P.)
• Loss or gain is always reckoned on C.P.
• Gain Percentage: (Gain %) => Gain % = (Gain x 100 / C.P)
• Loss Percentage: (Loss %) => Loss % = (Loss x 100 / C.P)
• Selling Price: (S.P.) => SP = [(100 + Gain %) / 100 x C.P]
• Selling Price: (S.P.) => SP =[(100 – Loss %) / 100 x C.P]
• Cost Price: (C.P.) => C.P = [100 /(100 + Gain %) x S.P]
• Cost Price: (C.P.) => C.P = [100 / (100 – Loss %) x S.P]
• If an article is sold at a gain of say 35%, then S.P. = 135% of C.P.
• If an article is sold at a loss of say, 35% then S.P. = 65% of C.P.
• When a person sells two similar items, one at a gain of say x%, and the other at a loss of x%, then the seller always incurs a loss given by: % Loss (Common Loss and Gain % / 10)2 = (x / 10)2
• If a trader professes to sell his goods at cost price, but uses false weights, then % Gain = [Error / (True Value) – (Error) x 100]%

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